The Institute of Chartered Accountants of India (ICAI) has released new guidelines allowing CA Intermediate students to convert their exhausted exemptions into permanent exemptions. This update is crucial for candidates who had secured exemptions in the November 2023 exam, which are set to expire after the January 2025 CA exam.
Key Highlights of the Guidelines
- One-Time Option for Permanent Exemption: Candidates whose exemptions have expired after the January 2025 results can apply to make them permanent. However, this is a one-time opportunity, and failure to apply will result in the exemption lapsing forever.
- Application Process: Eligible candidates must apply through their Self-Service Portal (SSP) dashboard before the deadline mentioned in the May 2025 Important Dates section on the ICAI website.
- Exemption in Multiple Papers: If a candidate holds exemptions in multiple papers of the same group (e.g., Paper 1 and 2 of Group-I), they must apply for both papers or let both exemptions lapse. Partial exemption continuation is not allowed.
- Impact on Group-Wise Passing: Candidates who opt for permanent exemption must secure at least 50% marks in the remaining papers of the group to pass under Regulation 37D(9).
- No Correction Window: Once the exemption is made permanent, candidates cannot modify or correct their choice. Also, late fee submissions are not allowed.
- Surrendering Exemptions: Candidates can choose to surrender their exemption and reappear for the exam if they prefer.
- Restriction on Future Exemptions: Once a Permanent Exemption (PE) is granted in a group, no new exemptions will be awarded for that group.
- Capping of Exempted Marks: For permanently exempted papers, marks will be limited to 50, and excess marks will not be counted towards the 50% aggregate requirement of that group or other groups.
Transition from Old to New CA Scheme
ICAI has mapped the papers from the Existing Scheme to the New Scheme under the Intermediate Course to ensure a smooth transition for students. Candidates should refer to the ICAI website for the detailed mapping and further clarifications.
For queries, candidates can email inter.exemption@icai.in.
Official copy of the notification has been attached
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